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"Reservoir Minerals Inc is engaged in the acquisition, exploration and development of mineral properties in Serbia, Cameroon, Gabon, Macedonia and Romania."

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RESERVOIR MINERALS INC > Stock ready for a pullback perhaps???

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Post by megacopper on Nov 14, 2012 1:39am

Stock ready for a pullback perhaps???

I always thought that the stock would pullback and fill the gap it made when it first jumped from $2.20 to $3.00 on the great news of the hole with 160 meters of 10% Cu equivalent. Nothing goes straight up. And yes its possible that the next set of results aren't that good but I really think these guys are onto a very big copper gold deposit and its just a matter of time before the stock goes into blastoff mode again once some more positive results are released.

The stock has since come back a little but it has yet to fill that gap which most stocks tend to do after a big run up. I am no expert with the charts by any means so perhaps others who understand it better can help explain what I am trying to say. I see a couple insiders have sold off a little during the past few weeks. They haven't sold much mind you, perhaps enough for an expensive christmas gift like a new camaro or challenger for the wife or girlfriend, LOL!!! Basically what I am saying is it wouldn't surprise me if the stock pulls back a little before the next set of drill results. The longer the wait and it will tend to drift lower. They always do especially with the jittery markets these days with the US fiscal cliff and Greece getting another bailout and other European countries just hanging on. Perhap the Greeks should have less siestas and work a little more, LOL!!!

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Comment by creaturecomphort on Nov 15, 2012 10:42am

Volume is about average. That tells me sellers are still around, but buyers are only interested at lower prices. This has been a bad sector to be in the past few days.

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Comment by psj567 on Nov 15, 2012 12:06pm

Current selling: weak hands, margin calls and day traders. Volatility is the norm in this sector especially for a junior explorer on the cusp of confirming a world class discovery with drill assays pending. The market is presenting smart investors with a hignly undervalued entry point today.

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